New ground Released for Resource Projects

The largest amount of land released under the State’s exploration program has been showcased at Mines and Money Conference underway in Brisbane today.

Mines Minster Anthony Lynham told the gathering that the Government is offering 43,250 km² for investors looking to invest in petroleum and gas exploration.

“This is made up of 29 areas which is more than double the previous release to help ensure future energy security as we transition to a renewable energy future. For coal explorers we are releasing 10 areas covering 1140 km² of land in the Bowen and Eromanga basins.”

“Nine of these areas are in the Bowen Basin, which contains almost all of the state’s metallurgical coal reserves.”

“This is land which has proven reserves and is supported by existing pipeline and transport infrastructure.”

The Minister says looking forward there is high level of confidence in the Queensland resources sector with 13 projects committed at a combined capital value exceeding $9.4 billion, across multiple commodities (metalliferous, coal, and gas).

“A further 42 projects are at the feasibility stage, with a combined capital value exceeding $61 billion, across multiple commodities.”

“Queensland’s resources industry is currently worth close to $60 billion and this land release supports the building of the next pipeline of resource projects.”

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